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Tuesday, May 29, 2012

Euro hit by Spain woes, Global stocks rise

Euro hit by Spain woes, Global stocks rise

Euro hit by Spain woes, Global stocks rise

Posted: 29 May 2012 01:03 PM PDT

A man walks past an information bilboard showing the evolution of the FTSE 100 index at the Swiss exchange in ZurichNEW YORK (Reuters) - The euro neared a two-year low on Tuesday as investors fretted about Spain's troubled banking system, but global stocks jumped on talk of further steps by the European Central Bank to support the region's banks and new measures by China to stem a slowdown. The euro fell further below $1.25 after Egan-Jones Ratings cut Spain's credit score for the third time in less than a month, saying the need to support the country's banks was putting new strains on Spanish public finances. The euro fell to its weakest level versus the U.S. ...

For-profit schools jump to enroll military spouses

Posted: 29 May 2012 01:00 PM PDT

"Unleash the dog trainer inside you," urges an ad for the online Animal Behavior College, which makes no bones about whom it's trying to recruit. In television and online ads, it speaks directly to military spouses. The message: You may be able to attend for free.

Facebook shares plumb new depths, valuation questioned

Posted: 29 May 2012 12:58 PM PDT

Facebook logo is seen on a screen inside at the Nasdaq Marketsite in New YorkSAN FRANCISCO (Reuters) - Facebook Inc shares slid below $29 to a new low on Tuesday as nervous investors fled the company's shares, concerned about the social network's long-term business prospects and an initial offering price that proved too rich. Shares of the No. 1 social network fell 10 percent to an all-time low of $28.65, before recovering slightly to $29.01. Since its market debut on May 18, the eight-year-old company has shed approximately $25 billion in value -- roughly equivalent to the market capitalization of Morgan Stanley, the lead underwriter of Facebook's IPO. ...

West expels envoys over massacre of Syrian children

Posted: 29 May 2012 12:55 PM PDT

People gather at a mass burial for the victims purportedly killed during an artillery barrage from Syrian forces in HoulaBEIRUT (Reuters) - Western powers expelled Syria's envoys on Tuesday in outrage at a massacre of 108 people, almost half of them children, and peace envoy Kofi Annan urged President Bashar al-Assad to halt the bloodshed as "a tipping point" had been reached. The killings in the town of Houla drew a chorus of condemnation from around the world, with the United Nations saying entire families were killed in their homes on Friday, some by army tanks and others probably by pro-Assad militia. "Bashar al-Assad is the murderer of his people," French Foreign Minister Laurent Fabius told Le Monde. ...

Americans grew gloomier about the economy in May

Posted: 29 May 2012 12:55 PM PDT

In this May 6, 2012, photo, shoppers carry their purchases along 33rd Street in New York. Americans' confidence in the economy in May had its biggest drop in eight months as consumers fretted about slow hiring, a big stock market drop and the global economy, according to the Conference Board, a private research group. Consumer confidence is widely watched because consumer spending accounts for 70 percent of economic activity. (AP Photo/CX Matiash)Americans grew much gloomier about the economy in May, causing a critical measure of consumer confidence to suffer its biggest decline in eight months and ending a period of steady optimism.

Dennis Rodman sentenced in family court

Posted: 29 May 2012 12:53 PM PDT

Dennis Rodman arrives at family court in Orange Calif., on Tuesday, May 29, 2012. The flamboyant former NBA player is expected to be sentenced for contempt in a long-running divorce case in Orange County. Rodman was found guilty of four counts of contempt for failing to pay child support for his two children. (AP Photo/Nick Ut)Flamboyant former NBA star Dennis Rodman was sentenced in family court Tuesday to 104 hours of community service on four counts of contempt for failing to pay child support.

India seeks to prop up rupee by boosting capital inflows

Posted: 29 May 2012 12:52 PM PDT

A shopkeeper holds a 500 rupee note as he inspects it for authenticityIndia on Tuesday said it was relaxing foreign investment rules in a move to bring in more capital to support the battered rupee.

Fighting US's worst teen pregnancy rate in Miss.

Posted: 29 May 2012 12:48 PM PDT

In this May 2, 2012 photograph taken in Marks, Miss., Shalendrick Tribble, 19, shows off a tattoo of her son's name in a classroom at Madison S. Palmer High School in Marks. Tribble had her son almost two years ago, and has been taking classes in parenting and family planning. (AP Photo/Laura Tillman)With her hair in a ponytail and her smile quick and wide, it's hard to tell that high school junior Donyell Hollins has been pulling all-nighters for most of the semester to take care of her infant daughter.

Bombardier CEO urges UK to think of Derby

Posted: 29 May 2012 12:40 PM PDT

Bombardier CEO Beaudoin speaks to employees at Bombardier's manufacturing facilities in TorontoTORONTO (Reuters) - Bombardier Inc's bid to supply trains for Crossrail, the project to build a new railway link under central London, is crucial to the future of the British rail industry, the Canadian company's chief executive said on Tuesday. Bombardier's facility in Derby, central England, is the country's last remaining train manufacturing plant, and the company is shortlisted for the Crossrail contract. If Britain wants to keep its local manufacturer, it needs to consider that factor when it evaluates bids, Chief Executive Pierre Beaudoin told reporters outside an event in Toronto. ...

Saving Dominican forest and an elusive songbird

Posted: 29 May 2012 12:40 PM PDT

In this May 22, 2012 photo, a road crosses through an agricultural area of a forest in San Francisco de Macoris, Dominican Republic. Conservationists are establishing a sanctuary that they say will be like no other in the Dominican Republic, blending sustainable agriculture with preservation on former pasture land at the edge of a cloud forest that will help protect a songbird called Bicknell's thrush which migrates each year from the northeastern U.S. and southern Canada. (AP Photo/Ricardo Arduengo)An elusive songbird that wings its way each year from austere mountaintops of the northeastern U.S. to the steamy forests of the Caribbean has inspired the creation of what conservationists hope will be a new model for nature reserves in a country that has long struggled with deforestation.

Randy Travis accuses ex of betraying information

Posted: 29 May 2012 12:40 PM PDT

FILE - In this April 18, 2010 file photo, country singer Randy Travis, right, and then wife Elizabeth arrive at the 45th Annual Academy of Country Music Awards in Las Vegas. Travis has filed a countersuit against his ex-wife claiming she's been divulging confidential information about the country music singer that was calculated to damage his reputation and career. The court documents filed recently in a federal court in Nashville don't say what information Elizabeth Travis is alleged to have revealed. The filings are the latest salvo in the feud between the Travises. The couple divorced in 2010 after 19 years of marriage. Elizabeth Travis had been his manager for more than three decades. She sued him last month claiming that Randy Travis made it impossible for her to do her job and terminated her management contract without proper written notice. (AP Photo/Dan Steinberg, file)County music singer Randy Travis is accusing his ex-wife of divulging confidential information about him in order to damage his reputation and career.

Workers among 17 dead in latest big Italian quake

Posted: 29 May 2012 12:38 PM PDT

An excavator removes debris in Cavezzo, northern Italy, Tuesday, May 29, 2012. A powerful earthquake killed at least 15 people Tuesday as it rocked a swath of northern Italy. Factories, warehouses and churches collapsed, dealing another blow to a region where thousands are still homeless from a stronger temblor just nine days ago. The 5.8 magnitude quake drove thousands more from their homes in the Emilia Romagna region north of Bologna, one of Italy's most agriculturally and industrial productive areas. (AP Photo/Marco Vasini)Workers at the small machinery company had just returned for their first shift following Italy's powerful and deadly quake earlier this month when another one struck Tuesday morning, collapsing the roof.

Serena in historic defeat, Nadal, Sharapova cruise

Posted: 29 May 2012 12:37 PM PDT

Serena Williams protests a callSerena Williams suffered an historic Grand Slam defeat in the French Open first round on Tuesday, the worst of her career, while Rafael Nadal and Maria Sharapova eased through.

Romney to clinch GOP nomination with Texas win

Posted: 29 May 2012 12:33 PM PDT

Republican presidential candidate, former Massachusetts Gov. Mitt Romney greets a group of veterans after speaking at a campaign event, Tuesday, May 29, 2012, in Craig, Colo. (AP Photo/Mary Altaffer)Mitt Romney is set to clinch the Republican presidential nomination Tuesday night with a win in the Texas primary, a triumph of endurance for a candidate who came up short four years ago and had to fight hard this year as voters flirted with a carousel of GOP rivals.

Government rests its case in Clemens perjury trial

Posted: 29 May 2012 12:32 PM PDT

Former Major League Baseball pitcher Roger Clemens, center, arrives at federal court in Washington, Tuesday, May 29, 2012, for his perjury trial. (AP Photo/Evan Vucci)Prosecutors have rested their case in the perjury trial of Roger Clemens.

Chief's exit paves way for Bank of Spain rehabilitation

Posted: 29 May 2012 12:29 PM PDT

MADRID (Reuters) - Miguel Angel Fernandez Ordonez's early exit as Bank of Spain governor signals Madrid's desire to restore its credibility, days after the government was forced to stage the country's biggest ever bank rescue. Ordonez met Prime Minister Mariano Rajoy on Tuesday to say he was leaving on June 10, leaving Spain's leader with just days to announce a new head for the once-feted central bank. ...

Three unlisted Spanish savings banks to merge

Posted: 29 May 2012 12:29 PM PDT

MADRID (Reuters) - Spanish savings bank Liberbank said it would merge with rivals Ibercaja and Caja 3, bulking up the banks' capital positions as they struggle with billions of euros of bad property debt. The merger would give Ibercaja 46.5 percent of the resulting group, Liberbank 45.5 percent, and Caja 3 8 percent, and create the country's seventh-biggest entity with more than 115 billion euros ($144 billion) in assets. The merger of the three unlisted banks must be cleared by competition authorities. ...

Spain to present 2012-2014 fiscal stability plan

Posted: 29 May 2012 12:29 PM PDT

MADRID (Reuters) - Spain's central government will put forward a three-year plan on fiscal stability, covering 2012-2014, when it presents a draft budget to Congress in the coming months, a government source told Reuters on Tuesday. Under Spanish law the government must present a medium-term fiscal stability plan when it misses deficit targets like it did last year. In addition, euro zone officials have said that Spain must present a detailed medium-term fiscal plan to convince policy makers and markets that it is on track to meet deficit cutting targets. (Reporting By Fiona Ortiz)

Spain to brave markets on regions, banks funding

Posted: 29 May 2012 12:29 PM PDT

Man reacts while looking at information screens at the Madrid stock exchangeMADRID (Reuters) - Spain, battling a debt crisis that is shaking its government, banks and companies, will soon issue new bonds to fund ailing lenders and indebted regions despite borrowing costs nearing the 7 percent level that drove other states to seek a bailout. The move will dent the country's strong liquidity position and further worsen public finances under scrutiny from investors and European officials who fear the euro zone's fourth economy may go the same way as Greece, Portugal and Ireland. ...

Serena loses in 1st round of major for 1st time

Posted: 29 May 2012 12:28 PM PDT

USA's Serena Williams returns the ball to France's Virginie Razzano during their first round match in the French Open tennis tournament at the Roland Garros stadium in Paris, Tuesday, May 29, 2012. (AP Photo/Christophe Ena)Serena Williams lost in the first round of a major tournament for the first time in her career, falling to Virginie Razzano of France 4-6, 7-6 (5), 6-3 Tuesday at the French Open.

Idaho calls 'Five Wives Vodka' offensive to church

Posted: 29 May 2012 12:28 PM PDT

Idaho liquor regulators say a Utah liquor named "Five Wives Vodka" is in bad taste and they won't stock bottles or take special orders at state-owned stores.

Worker shot outside South Texas polling location

Posted: 29 May 2012 12:27 PM PDT

A witness says a campaign worker was struck in the leg in a drive-by shooting about 100 yards from a South Texas polling place that doubles as a police and fire station.

UN: Most of 108 killed in Syria were executed

Posted: 29 May 2012 12:21 PM PDT

This frame grab made from an amateur video provided by Syrian activists on Monday, May 28, 2012, purports to show the massacre in Houla on May 25 that killed more than 100 people, many of them children. The amateur footage shows people running along a street, purportedly just after the attack on Houla started. (AP Photo/Amateur Video via AP video) THE ASSOCIATED PRESS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS CITIZEN JOURNALISM IMAGEThe U.N.'s human rights office said Tuesday that most of the 108 victims of a massacre in Syria last week were shot at close range, some of them women, children and entire families gunned down in their own homes.

Israeli premier: World powers too soft on Iran

Posted: 29 May 2012 12:19 PM PDT

World powers are being too soft over Iran's nuclear program by only asking an end to low grade enrichment, Israel's prime minister said Tuesday, charging that Tehran is proceeding to develop atomic weapons.

Google, Samsung unveil new version of Chromebook

Posted: 29 May 2012 12:13 PM PDT

Google will try to win more converts to a computer operating system revolving around its popular Chrome Web browser with a new wave of lightweight laptops built by Samsung Electronics.

Samsung Galaxy S3 gets head start on rival iPhone

Posted: 29 May 2012 12:12 PM PDT

Customers pose for the media after they were first in line to buy Samsung Electronics' new Samsung Galaxy SIII smartphones during a late night sale event in BerlinSEOUL/LONDON (Reuters) - Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell its previous model that helped the South Korean company topple Apple as the world's largest smartphone maker. The Galaxy S3, which tracks the user's eye movements to keep the screen from dimming or turning off while in use, hits stores in 28 European and Middle East countries, including Germany, as Samsung aims to increase its lead over Apple months ahead of its new iPhone, expected in the third quarter. ...

Iran, other Mideast states hit by computer virus

Posted: 29 May 2012 12:12 PM PDT

Iran and other Middle East countries have been hit with a cunning computer virus that can eavesdrop on computer users and their co-workers and filch information from nearby cellphones, cybersecurity experts said Tuesday. And suspicion immediately fell on Israel as the culprit.

Romney welcomes mass expulsion of Syrian diplomats

Posted: 29 May 2012 12:10 PM PDT

In this photo taken May 29, 2012 Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks in Craig, Colo. Romney is calling for more Republican presidential candidate Mitt Romney is calling for more "assertive measures" against Syrian President Bashar Assad, including arming the Syrian opposition. The Obama administration so far has declined to help arm the opposition.

New deadly quake shakes northern Italy

Posted: 29 May 2012 12:05 PM PDT

Damaged old church is seen in Mirandola near ModenaCAVEZZO, Italy (Reuters) - An earthquake killed at least 15 people in northern Italy on Tuesday, damaging buildings and spreading fear among thousands of residents living in tents after a similarly strong tremor in the same region flattened their homes nine days ago. Officials said 200 people had been injured and seven were missing, trapped under the rubble of houses and warehouses in the Emilia-Romagna region, where several building sites had just reopened after the previous quake on May 20. ...

Tool-wielding robots crawl in bodies for surgery

Posted: 29 May 2012 12:03 PM PDT

In this April 18, 2012, photo, Carnegie Mellon University professor Howie Choset, right, stands beside a robot as staff researcher Florinan Enner uses a controller to demonstrate how it climbs up a tubular armature at their lab on campus in Pittsburgh. Scientists and doctors are using the creeping metallic tools to perform surgery on hearts, prostate cancer and other diseased organs. (AP Photo/Keith Srakocic)Imagine a tiny snake robot crawling through your body, helping a surgeon identify diseases and perform operations.

Qatar probes mall fire as young victims mourned

Posted: 29 May 2012 11:56 AM PDT

Smoke rises above the Villaggio Mall, in Doha's west end, as a fire took hold of the upscale mall in the Qatari capital of Doha Monday May 28, 2012. Qatar's Interior Ministry said 13 children were among 19 people killed in a fire that broke out at one of the Gulf state's fanciest shopping mall on Monday. The Villaggio opened in 2006 and is one of Qatar's most popular shopping and amusement destinations. It includes an ice skating rink and indoor Venice-style gondola rides. (AP Photo/Osama Faisal)Investigators in Qatar carried out their first extensive probes through a fire-ravaged daycare center and other charred areas inside the country's biggest mall Tuesday after a blaze killed 19 people, 13 of them children.

Danish police arrest 2 men in terror plot

Posted: 29 May 2012 11:51 AM PDT

Two Danish brothers originally from Somalia were given four weeks of pre-trial detention Tuesday after they were arrested by Denmark's security service on suspicion of plotting a terror attack.

Annan tells Assad: halt violence, Syria at "tipping point"

Posted: 29 May 2012 11:50 AM PDT

BEIRUT (Reuters) - International envoy Kofi Annan said on Tuesday that Syria, suffering from persistent killings and abuses, was at a "tipping point" and he had appealed to President Bashar al-Assad to act immediately to halt the violence. Annan said that in his talks with the Syrian leader in Damascus he "conveyed in frank terms the grave concern of the international community about the violence in Syria, including the recent shocking events in Houla." He said Assad had also condemned the killings in Houla, where 108 people were massacred on Friday, almost half of them children. ...

Slow, wet Beryl dumps rain on US Southeast coast

Posted: 29 May 2012 11:48 AM PDT

This NOAA satellite image taken Tuesday, May 29, 2012 at 07:45 AM EDT shows clouds over Florida and Georgia associated with Tropical Depression Beryl as it will slowly move northeastward and into the Atlantic Ocean the next few days. Areas of heavy rain and thunderstorms can continue to be expected. (AP Photo/Weather Underground)Residents along the Southeast coast were warned of possible flooding Tuesday from former Tropical Storm Beryl that left up to 10 inches of rain in northern Florida and was moving northeastward before heading back toward the coast and into the Atlantic.

UN points finger at pro-Syrian thugs in massacre

Posted: 29 May 2012 11:48 AM PDT

The U.N. peacekeeping chief said Tuesday there are strong suspicions that pro-regime fighters were responsible for some of the 108 victims of a massacre in Syria, along with heavy weapons illegally fired by Syrian government forces.

Friends suspected Norway killer was dejected, gay

Posted: 29 May 2012 11:46 AM PDT

Confessed mass-murderer Anders Behring Breivik talks with his Tord Jordet, one of Breivik's lawyers inside court as the trial against him continues in Oslo, Norway, Tuesday May, 29, 2012. Three former friends of Breivik gave evidence Tuesday about his deep depression, living with his mother and his lack of social contacts while Breivik watched from an adjoining room. The terror trial continues against the anti-Muslim fanatic, Breivik, who has confessed to killing 77 people in July 2011, when he 8 people by setting off a bomb in central Oslo, and then shot to death 69 people on Utoya island, outside the Norwegian capital. (AP Photo / Heiko Junge, NTB scanpix) NORWAY OUTFormer friends of confessed Norwegian mass killer Anders Behring Breivik said that some years before the massacre he came across as depressed, expressed feminine tendencies and led some to believe he might be gay.

Vatican says leaks violated conscience of faithful

Posted: 29 May 2012 11:45 AM PDT

The St. Peter's Basilica dome is seen through the spy hole of Knights of Malta gardens in Rome, Monday, May 28, 2012. The Vatican's investigation into the source of leaked documents has yielded its first target with the arrest of the pope's butler, but the investigation is continuing into a scandal that has embarrassed the Holy See by revealing evidence of internal power struggles, intrigue and corruption in the highest levels of the Catholic Church governance. (AP Photo/Gregorio Borgia)The Vatican on Tuesday sought to put the widening scandal over leaked documents into a very different light, saying the stolen papers didn't just concern matters of internal church governance but represented the thoughts of people who in writing to the pope believed they were essentially speaking before God.

U.S. home prices rise but consumer confidence cools

Posted: 29 May 2012 11:44 AM PDT

To match Feature USA-HOUSING/RECOVERYNEW YORK (Reuters) - U.S. home prices edged higher for the second month in a row in March as the housing recovery picked up traction, while gains in some of the hardest hit areas suggested the improvement was becoming more broad-based. But consumer confidence cooled in May to its lowest level in four months, separate data showed on Tuesday, as Americans turned gloomy about the job market and the economic outlook. The closely watched S&P/Case Shiller composite home price index of 20 metropolitan areas gained 0. ...

17 dead in latest killer quake in northern Italy

Posted: 29 May 2012 11:43 AM PDT

A man looks at a collapsed farm in Camposanto, northern Italy, Tuesday, May 29, 2012. A magnitude 5.8 earthquake struck the same area of northern Italy stricken by another fatal tremor on May 20. (AP Photo/Luca Bruno)Rescue workers combing through the rubble of Italy's latest deadly quake say they have found the bodies of two workers in a collapsed factory, raising the death toll to at least 17.

Gupta lawyer implies others leaked on P&G

Posted: 29 May 2012 11:41 AM PDT

NEW YORK (Reuters) - A number of people other than Rajat Gupta could have leaked confidential information about Procter & Gamble Co's sale of its Folgers coffee unit in 2008, Gupta's lawyer implied to the jury at his insider-trading trial on Tuesday. Gupta, a former director at P&G and Goldman Sachs Group Inc, is accused in U.S. District Court in Manhattan of telling now-imprisoned hedge fund manager Raj Rajaratnam about the $3 billion Folgers sale to J.M. Smucker & Co before it was publicly announced on June 4, 2008. ...
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